As a reminder to school districts, Ohio law requires SERS to impose reporting and payment penalties on employers that do not meet relevant due dates. Although SERS may extend a due date for "good cause" if the extension request is received before the due date, there is no allowance for one-time forgiveness after the due date.
SERS had temporarily suspended reporting and payment penalties when it launched eSERS, its employer self-service intranet portal. However, penalties for late reporting and payments will resume on Aug. 1.
Payment and reporting requirements and penalties
- Employee contributions are to be remitted to SERS no later than five business days from the pay date, also known as reporting date in eSERS.
- Employer contributions are to be remitted to SERS no later than five business days from the pay date, also known as reporting date in eSERS.
- Employers that choose to make their Employer Contribution Payments through the Foundation Program are always considered on time.
- Payroll (contribution) reporting is due no later than five business days from the pay date, also known as reporting date in eSERS.
- Districts are penalized $100 per day for each business day they do not submit, complete, or correct contribution reporting information on time.
- The Contribution Report needs to be submitted and posted (not in "Review" status) in order for the report to be considered on time. This includes the Payment Remittance. This penalty cannot exceed $1,500 per report.
For more information, go to the School Employees Retirement System of Ohio website: firstname.lastname@example.org or www.ohsers.org.
Posted by Van D. Keating on 7/27/2018